Relx Plc Stock Price, News & Analysis

The Health Care business of LexisNexis Risk Solutions announced that Todd Garlitz has joined its leadership team to enhance marketing activities. Reporting to Josh Schoeller, CEO of Health Care, Garlitz brings over 23 years of experience from various roles in healthcare marketing. His previous positions include leadership roles at RelayHealth and Thomson Reuters Healthcare. Garlitz aims to drive revenue and profit growth through targeted marketing strategies. LexisNexis Risk Solutions is part of RELX, focusing on data-driven insights across multiple industries.

LexisNexis Risk Solutions is now a member of the Patient ID Now coalition, which aims to enhance patient identification across healthcare systems. This coalition seeks to advance a nationwide strategy for accurate patient matching by advocating for the removal of section 510 from the Labor-HHS-Education appropriations bill. LexisNexis offers its LexID for Healthcare solution to combat interoperability challenges, reduce duplicate records, and ensure patient safety. The initiative is critical as it addresses inaccuracies that can lead to incorrect treatment and improves overall healthcare efficiency.

LexisNexis Risk Solutions has released its U.S. Auto Insurance Trends Report, highlighting significant data trends in the auto insurance sector based on 2019 data. The report reveals a 20% increase in major speeding violations since 2015, peaking at 25% nationally. It identifies generational effects on violations, with Millennials responsible for 55% of incidents. Vehicle data indicates that 76% of vehicles have advanced driver-assistance systems, influencing insurance pricing. The report emphasizes the need for insurers to adopt technology to enhance customer service in a changing market, driven by factors like COVID-19.

LexisNexis® Risk Solutions, part of RELX, has appointed Josh Schoeller as CEO of its Health Care analytics division. Schoeller, a key executive since 2013, previously held roles including senior vice president and general manager for Health Care. His experience spans over 25 years in data management and analytics, with a focus on delivering innovative solutions to health organizations. Under his leadership, the unit aims to enhance care delivery while optimizing costs through actionable analytics.

On July 24, 2020, LexisNexis Risk Solutions launched Telematics OnDemand, a solution enabling U.S. auto insurers to access telematics data in near-real time for better pricing and underwriting. This innovation allows insurers to offer personalized pricing and potential immediate discounts, enhancing consumer engagement. Telematics OnDemand integrates data from major automakers and provides a platform for insurers to utilize driving behavior insights effectively, improving loss ratios and customer retention.

LexisNexis Risk Solutions released its 2020 True Cost of Fraud Study, revealing a 7.3% increase in fraud costs for U.S. e-commerce and retail merchants year-over-year. The fraud multiplier rose to $3.36 for every dollar lost, up from $3.13 in 2019. The study found that fraud attacks increased by 9%, with large retailers seeing a 43% rise in successful fraud attempts. The pandemic significantly impacted these metrics, particularly for businesses relying on mobile transactions. Retailers are urged to adopt multi-layered fraud prevention strategies.

On July 14, 2020, LexisNexis Risk Solutions released insights from an annual focus group of over 20 healthcare IT executives, emphasizing their increased accountability for delivering safe technology tools for high-quality care. Key priorities identified include managing interoperability, bolstering cybersecurity, and integrating Social Determinants of Health (SDOH). The COVID-19 pandemic heightened the urgency of these priorities, underscoring the need for data access and security in healthcare. The focus group aims to collaboratively overcome hurdles in cybersecurity, data governance, and interoperability.

LexisNexis Risk Solutions has launched LexisNexis Vehicle Build, a product designed to assist U.S. insurance carriers in enhancing their auto insurance underwriting processes. This solution provides comprehensive data on Advanced Driver Assistance Systems (ADAS) features in vehicles, helping insurers accurately evaluate risk. Analysis of 11 million vehicles indicated that ADAS-equipped vehicles experience a 27% reduction in bodily injury claims and a 19% reduction in property damage claims. The growing prevalence of these features emphasizes the need for better risk assessment in insurance pricing.

LexisNexis Risk Solutions has introduced national telehealth trends to its COVID-19 Data Resource Center, showcasing a surge in telehealth adoption due to the pandemic. The insights, derived from extensive U.S. de-identified claims data, highlight significant increases in telehealth claims across various specialties from January to April 2020. These insights are crucial for providers navigating care delivery changes. The Resource Center also offers new demographic data on at-risk populations, aiding healthcare organizations and officials in resource allocation.